The International Day of Cooperatives (IDC) - 3 July

The International Day of Cooperatives is observed on the first Saturday of July, every year. The #CoopsDay, as popularly known, is celebrated to increase awareness of cooperatives and highlight the contribution of the cooperative movement. In 2021 the International Day of Cooperatives was celebrated on 3 July.

As UPSC surprises aspirants with questions linked with what usually is assumed to be trivia; it is advisable that one must scroll through the facts about International Day of Cooperatives to get the basic information. It might be your lucky day during UPSC Prelims if at all a question is asked from this topic

Facts About the International Day of Cooperatives for UPSC Exam

Read the below-mentioned facts about International Day of Cooperatives; and aid your IAS Exam preparation along with other competitive exams’ preparation. 

The topic can be asked as a Current Affairs Question in IAS Prelims. Visit the attached link to attempt practice quizzes on current affairs.

To read more about the other Important International and National days click on the link. Such days and events become very important for UPSC Prelims. 

About International Day of Cooperatives (IDC) 2021

• The day is observed to promote the cooperative model because it contains core aspects of sustainable development and is based on ethical values and principles.
• 2021’s observance was the United Nations’ 27th International Day of Cooperatives and the 99th International Cooperative Day (being observed since 1923).

What are Cooperatives?

• Co-operatives are associations and enterprises in which people come together and effectively improve their lives while contributing to the economic, social, cultural and political advancement of their community and nation.
• Cooperatives are found in fields like health, agriculture, production, retail, finance, housing, employment, education, social services and many more.
• Co-operatives foster external equality, are community-based and also are committed to the sustainable development of their communities – environmentally, socially and economically.

Read more about Cooperatives Society in the link.

Significance of International Day of Cooperatives (IDC)

• #CoopsDay is very significant to spread the word about how a human-centred business model based on cooperative values of self-help and unity, as well as moral standards of socially responsible, can reduce inequality and start creating shared prosperity.
• The main aim of the day is to popularise cooperatives and to advance the cooperative movement’s principles of worldwide solidarity, economic efficiency, equality, and global peace. 
• The event highlights the contributions of the cooperative movement to resolve the major problems addressed by the United Nations.
• It also strengthens and extends the partnerships between the international cooperative movement and other actors.
• Since for two years the world has been bearing the losses due to COVID-19, this year’s theme was to react appropriately to the immediate effects of COVID-19.

History of International Day of Cooperatives

• International Day of Cooperatives has been celebrated since 1923 by the cooperatives.
• However, the UN General Assembly on December 16, 1992, proclaimed “the first Saturday” of July 1995 to be the International Day of Cooperatives, to mark the centenary of the establishment of the International Cooperative Alliance(ICA).
• Ever since, the United Nations and the International Cooperative Alliance set the theme for the celebration of International Day of Cooperatives through the Committee for the Promotion and Advancement of Cooperatives (COPAC).
• COPAC is the multi-stakeholder partnership of global public and private institutions that champions and supports people-centred and self-sustaining cooperative enterprises as leaders in sustainable development.

Note: As UPSC 2022 approaches, use BYJU’S free Daily Video Analysis of The Hindu Newspaper to augment your preparation.

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